One solution would be to free up hundreds of thousands of empty apartments in the capital, according to a government minister.
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00:00 Across Europe, the housing crisis comes hand in hand with the cost of living crisis. Home
00:07 ownership rates are dropping and people are finding it increasingly difficult to pay their
00:11 rent or mortgage. As British social housing expert Phil Jenkins explains, high public
00:18 debt prevents major government spending to tackle the housing crisis. He says public-private
00:24 partnerships are essential to help the most vulnerable.
00:31 In Greece, after a decade of falling prices due to the debt crisis, real estate is having
00:47 a strong comeback. House prices, both sales and rents, have increased by as much as 50%
00:53 in the past seven years. According to Eurostat, Greece spent the most among Europeans on housing.
00:59 The government is stepping in by trying to bring more apartments to the market.
01:06 The market has shown strong resistance to the rise in rents. Producers of the market
01:13 believe it is a matter of time before the consequences of the high cost of living and
01:21 the high rents will be met. However, prices may be cut before next year.
01:29 From Athens, this is Giorgos Giorgopoulos for Euronews.
01:37 In Greece, the government is trying to bring more apartments to the market. Producers of
01:44 the market believe it is a matter of time before the consequences of the high cost of living